A fully leased retail strip at the corner of Oak Street and West 16th Avenue in Fairview has sold for $7,200,000, representing $1,029 per square foot on the building at a 3.4% cap rate.
The property is a single-storey, multi-tenant retail plaza built in 1936 on a 12,578 square foot corner lot. It was 100% occupied at the time of sale with four tenants: Comma Cafe, Eva & Co Wigs, a dry cleaner, and D. & A.’s Pet Food’N More.
Details:
- Sale price: $7,200,000
- Price/SF: $1,029
- Cap rate: 3.4%
- Building size: 6,996 SF
- Lot size: 12,578 SF
- Sale date: May 2026
The vendor, Concord International Lands Ltd., had held the property since 2006, when it was acquired for $3,808,000 ($495/SF). The buyer was DDH 3208 Oak Holdings Ltd., a Canadian private investor based in Richmond.
The site is designated for mixed-use low-rise development under the Cambie Corridor Phase 3 plan, with up to 3.3 FSR and six storeys of density permitted, yielding approximately 41,500 square feet of buildable area. The future Oak-VGH Broadway Subway Station is approximately 800 metres to the north.
The deal was brokered by Brett Aura and Christine Leung of TRG Commercial.